Gregory W. Seward - 12 Feb 2025 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
General Counsel
Signature
/s/ Jonathan A. Greene, by Power of Attorney
Issuer symbol
LOB
Transactions as of
12 Feb 2025
Net transactions value
-$44,335
Form type
4
Filing time
14 Feb 2025, 17:06:19 UTC
Previous filing
12 Feb 2025
Next filing
18 Feb 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOB Voting Common Stock Options Exercise +2,754 +3.2% 89,642 12 Feb 2025 Direct F1
transaction LOB Voting Common Stock Tax liability $44,335 -1,274 -1.4% $34.80 88,368 12 Feb 2025 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction LOB Restricted Stock Units Options Exercise $0 -2,754 -20% $0.000000 11,016 12 Feb 2025 Voting Common Stock 2,754 Direct F1, F2
holding LOB Restricted Stock Units 2,000 12 Feb 2025 Voting Common Stock 2,000 Direct F1, F3
holding LOB Restricted Stock Units 7,110 12 Feb 2025 Voting Common Stock 7,110 Direct F1, F4
holding LOB Restricted Stock Units 47,795 12 Feb 2025 Voting Common Stock 47,795 Direct F1, F5
holding LOB Restricted Stock Units 9,264 12 Feb 2025 Voting Common Stock 9,264 Direct F1, F6
holding LOB Employee Stock Option (right to buy) 13,500 12 Feb 2025 Voting Common Stock 13,500 $14.55 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
F2 The RSUs vest in five equal annual installments beginning on February 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
F3 The RSUs vest in five equal annual installments beginning on February 22, 2022, subject to the reporting person's continuous service to the Company or a related entity on such date.
F4 The RSUs vest in five equal annual installments beginning on February 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date.
F5 The RSUs vest in five equal annual installments beginning on February 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.
F6 The RSUs vest in five equal annual installments beginning on February 10, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
F7 The shares subject to this option vested and became exercisable yearly in seven installments beginning on November 19, 2016, as follows: 10% of the shares subject to the option vested on each of November 19, 2016, 2017, 2018, 2019, and 2020; 25% of the shares subject to the option vested on each of November 19, 2021 and November 19, 2022.